US: Microchip receives antitrust clearance for acquisition of Atmel

Microchip Technology Incorporated, a leading provider of microcontroller, mixed-signal, analog and Flash-IP solutions, today announced, in connection with its pending acquisition of Atmel Corporation, that the U.S. Federal Trade Commission cleared the transaction under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, on March 11, 2016, and the German Federal Cartel Office cleared the transaction on February 25, 2016.

The Korea Fair Trade Commission continues to review the transaction, and Microchip anticipates receiving approval from the KFTC. Other than the foregoing approvals, there is no further antitrust clearance required for completion of the transaction.

The transaction is currently undergoing review from the French Ministry regarding certain French ISS and defense business matters. Completion of the merger remains subject to certain closing conditions, including approval by Atmel stockholders. The special meeting of Atmel stockholder to consider approval of the merger is scheduled for Friday, April 1, 2016.

Full content: PR Newswire

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